Earnings Per Share

Basic earnings per share is calculated by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share is calculated by dividing net income available to common stockholders by the weighted-average number of common shares outstanding including dilutive securities.

The following is a reconciliation of the calculation of basic and diluted earnings per share (in thousands, except share and per-share data):



	Years Ended December 31,
	2018		2017		2016
Numerator:
Net income attributable to common stockholders	$	87,784	$	91,877	$	114,796
Denominator:
Weighted-average number of common shares outstanding—basic	205,462,911		200,784,450		201,079,573
Effect of dilutive securities:
Unvested restricted common stock	215,655		188,759		47,468
Shares related to unvested PSUs	452,584		548,259		549,217
Weighted-average number of common shares outstanding—diluted	206,131,150		201,521,468		201,676,258
Earnings per share:
Net income per share available to common stockholders—basic	$	0.43	$	0.46	$	0.57
Net income per share available to common stockholders—diluted	$	0.43	$	0.46	$	0.57

The OP units held by the noncontrolling interest holders have been excluded from the denominator of the diluted earnings per share calculation as there would be no effect on the amounts since the OP units' share of income or loss would also be added or subtracted to derive net income (loss) available to common stockholders.